ST. LOUIS — Isle of Capri Casinos Inc. announced Thursday it has entered into an agreement to sell Lady Luck Casino Marquette to an affiliate of Casino Queen, based in Swansea, Ill.
Under the terms of the agreement, CQ Holdings Co. Inc. will purchase Lady Luck Casino Marquette for cash consideration of approximately $40 million.
The sale is expected to close in early fiscal 2018, subject to the approval of the Iowa Racing and Gaming Commission, the Illinois Gaming Control Board and customary closing conditions.
This transaction is permitted by the recently signed definitive merger agreement between the Isle and Eldorado Resorts Inc., which is acquiring all of the outstanding shares of Isle of Capri Casinos Inc.
